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EU Invests 122 Million Euros in Innovative Low-Carbon Projects

Kategori : ELECTRICITY ENERGY NEWS, ENERGY AGENDA NEWS, ENERGY EFFICIENCY NEWS - Tarih : 06 August 2021


For the first time since the creation of the Innovation Fund, the European Union is investing 118 million euros into 32 small innovative projects located in 14 EU Member States, Iceland and Norway.

The grants will support projects aiming to bring low-carbon technologies to the market in energy-intensive industries, hydrogen, energy storage and renewable energy. In addition to these grants, 15 projects will benefit from project development assistance worth up to 4.4 million euros, with the aim of advancing their maturity.

“With today’s investment, the EU is giving concrete support to cleantech projects all over Europe to scale up technological solutions that can help reach climate neutrality by 2050,” said Executive Vice-President Timmermans. “The increase of the Innovation Fund proposed in the Fit for 55 Package will enable the EU to support even more projects in the future, speed them up and bring them to the market as quickly as possible.”

The 32 projects selected for funding were evaluated by independent experts for their ability to reduce greenhouse gas emissions compared to conventional technologies and to innovate beyond the state-of-the-art while being sufficiently mature to enable their quick deployment.

Among the selected projects, there are also a few from Central and Eastern Europe. In Croatia, the Closed Carbon Geothermal Energy project will generate CO2 free heat and power by using a novel combination of existing technologies from other industries to exploit geothermal energy and dissolved natural gas from the same source.

Source: Ceenergynews


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